Gartmore Grp Share Discussion Threads

[mcpaulas] 14/7/2010 19:07

rambourg has resigned

[diku] 13/7/2010 14:23

Still no news on the fund manager under FSA investigation...

[envirovision] 21/6/2010 10:15

Jupiter hit the market today opening at a 15% premium, which puts Gartmores fair value like for like nearer £2 now imo.

[simon gordon] 17/6/2010 10:20

Enviro,

Very good sign, should mean outflows are low.

[envirovision] 17/6/2010 09:40

Directors all buying in yesterday, always a good sign:

Jeffrey Meyer 300,000
David Francis 21,337
DAVID LINDSELL 30,000
Dominic Rossi 42,675
Keith Starling 42,675
PHILIP WAGSTAFF 42,675

[envirovision] 16/6/2010 10:23

Jupiter 2.5x oversubscribed. Not bad considering the state of the markets in the last month.

Jupiter valued at approx 11x 2010 earnings.

I have taken a few Gartmore. Gartmore are undervalued based on this float and should be valued at more like £1.70 by the look of it.

[envirovision] 14/6/2010 11:01

Interesting Simon

[simon gordon] 14/6/2010 10:39

BoA forecasts - 18/5/10:

12/10
PBT - 70.3m
EPS - 16p
Net Debt - 64.6m

12/11
PBT - 90.8m
EPS - 20.5p
DPS - 2p
Net Debt - 25.6m

*HSBC are forecasting a dividend of 6.99p.

Once the Rambourg incident is cleared up the company should be able to continue its growth path.

If it becomes business as usual then it is possible that during 2011 GRT could be on 10x 2012 earnings of 25.4p = 254p.

This could eventually be a high yielding three bagger, considering the downside is not extreme this looks a good wager.

[davidosh] 10/6/2010 16:50

Which funds actually invested at the flotation ? Maybe they can answer your question as to why they invested ?

[kilmeedyman] 10/6/2010 16:38

Have a look at Jupiter's accounts performance over the last few years and the trend seems to spiralling downwards towards a 'last ditch' flotation.

I can't imagine how a fund manager could possibly look at the fundamentals and commit any of their clients funds in that direction.

[envirovision] 10/6/2010 15:47

There must be some value here, but I suspect its around 50p

[m.t.glass] 10/6/2010 14:25

Three of the 5 MMs now bidding under a quid

[nick rubens] 07/6/2010 13:43

I agree hvs, Jupiters float will be followed in a few months by a 'cautionary note on trading', followed by a 'profits to be less than forecast'.

Seen it so many times. The big buyers will be those who are throwing away 'other peoples money' ie ' Fund Managers'.

[hvs] 04/6/2010 15:45

JUPITER following fast on Gartmores heels.

Stay well CLEAR.

CITY wide boys make HAY while investors make mega losses.

CITY BOYS KNOW HOW TO LOOK AFTER EACH OTHER

[envirovision] 04/6/2010 15:31

envirovision - 25 Feb'10 - 10:43 - 7 of 118 edit


How did they get this away?

Net Current Tangible Assets : - Deficit - £168.748 million
Earnings last 9 months - £38.8 million
Pre tax - of which - One off exchange gain on revaluing $ borrowings - £49m!!!!!! Market Cap at issue - c£802m

You could ask the same about same in US today:


However thats easy, spread the word Greek around and couple it with varouse G20's switching on the QE again thus pummel the euro and a basket of basket case currencys e.g. UK sterling and "Hey presto"

I reckon long term gartmore may well fall sub £1, I assume we can call it a penny share then?

[salpara111] 01/6/2010 12:34

Appears that I might have been a little hasty!
I guess sentiment will remain negative until such times as this issue is resolved.

[salpara111] 31/5/2010 20:15

Fundamentals suggest this is undervalued, my estimate of a fair value is around 160. With any new float there is what I refer to as "hope" value and with negative market sentiment that has to be discounted out.
having said that I estimate fair value for FCAM at 100 and it is below 60 so maybe I am an optimist.

[roman2325] 31/5/2010 13:33

Sal: why did you buy this? (Serious question)